In a notification issued on 28th day of September 2020, the food ministry has allocated 23 LMT monthly sugar quota for October 2020 to each of 547 mills in India. The allocated quota is higher in comparison to the previous years 2019 and 2018 leaving sugar mills in a panicky situation to sell the sugar stocks. The quota allocated is also 4.55% higher than that of the previous month.
In conversation with ChiniMandi News a Government official shared his views on the announced quota of sugar for October 2020. He said,“The quota announced is relatively higher in comparison to the previous years. However we are confident that the allocated quota would be sold by the end of the month keeping in view the easing of lockdown nationwide and major Hindu festivals Durga Puja and Dussehra lined up in the month of October.
This step has been deliberately taken as it would ensure sugar mills are in a position to improve their cash flow before the commencement of the new sugar season.” He further added.
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